Golden Goose, the Italian maker behind the fashion for £500 pre-scuffed trainers, has blamed turmoil in European markets for a last-minute delay to tomorrow’s planned €1.7 billion flotation.
The manufacturer of Super-Star sneakers, popular with Gen-Z and celebrities including Taylor Swift, said it was shelving indefinitely its initial public offering on the Milan exchange because of continuing market upheaval.
In a statement to investors, the company said that “significant deterioration” in conditions following the European parliament elections and President Macron’s calling of a general snap election in France had impacted European markets and “particularly the luxury sector.”
Taylor Swift is a Golden Goose fan
GETTY
It added: “The market backdrop is not the right environment to take the company public. An IPO will be reassessed in due course.”
Golden Goose is owned